From SM management console updating Admin password gives the following errors:
This error message will come if XPSAudit.dll is not configured as Event Handler. This can only happen if 5.x or 6.x policy server which has event handler libraries already configured is upgraded to r12. In this case after the upgrade you will have to manually add the XPSAudit event handler library in the Advanced tab of Policy Server Management console.
Please follow the following steps:
policy_server_home\bin. policy_server_home;Specifies the Policy Server installation path.